North America Phenol Market Report and Forecast 2025-2034

North America Phenol Market Size

The North America phenol market attained a volume of 3.88 million tons in 2024. The market is further projected to grow at a CAGR of 3.6% between 2025 and 2034, reaching a volume of 5.33 million tons by 2034.

Key Takeaways

• The major factors influencing North America phenol market development include the increasing demand for phenol-based resins and polymers in various end-use industries such as automotive, electronics, and construction.

• As per industry reports, the key countries in the world accounting for over 68% of the total phenol capacity in 2022 include China, the US, South Korea, Taiwan, and Germany.

• The market is driven predominantly by demand for BPA, which accounts for nearly half of global phenol consumption. Consumption of BPA is driven by demand for polycarbonate products.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

There is a growing demand for phenol derivatives in North America, driven by their wide range of applications in industries such as pharmaceuticals, chemicals, and electronics. This trend is boosting the overall consumption of phenol and its derivatives, leading to North America phenol market growth and expansion. For instance, in 2022, the phenol capacity was 15.65 million tonnes per annum (mtpa), which is expected to grow further. Companies like INEOS Phenol and Mitsui Chemicals are expanding their product lines to include a wide range of phenol derivatives, catering to the growing demand for these products in industries such as pharmaceuticals, chemicals, and electronics.

Advancements in manufacturing processes, such as the cumene process, Dow process, and Ranching-Hooker process, are enhancing the efficiency and sustainability of phenol production in North America. These technological innovations are driving market growth and improving the overall competitiveness of the industry. Companies like Shell and SABIC are investing in technological advancements in manufacturing processes. These innovations are enhancing the efficiency and sustainability of phenol production.

As per North America phenol market analysis, phenolic resins are widely used in various applications, including the production of adhesives, coatings, and insulation materials. Major producers of phenolic resins in North America include Hexion, BASF, and Georgia-Pacific Chemicals. The demand for phenolic resins is driven by their versatility and wide range of applications, particularly in the construction and automotive industries.

Caprolactam is a key intermediate in the production of nylon 6 fibres and resins, with significant demand from the textile, automotive, and electronics industries. Major producers of caprolactam in North America include Ascend Performance Materials, Invista, and BASF.

Market Segmentation

North America Phenol Industry Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Phenolic Resin

• Bisphenol A

• Caprolactam

• Others

Market Breakup by Country

• United States of America

• Canada

Competitive Landscape

Market players are focusing on expanding their production capacity and investing in research and development activities to develop new and innovative phenol-based products.

• INEOS AG

• Mitsubishi Chemical Group Corporation

• Honeywell International Inc.

• Shell PLC

• Solvay SA 

• ALTIVIA 

• AdvanSix Inc.

• Capital Resin Corporation

• SI Group, Inc.

• Others

Key Highlights of the Report